Luxgen Motor Co (納智捷汽車), a subsidiary of the nation’s largest automaker, Yulon Motor Co (裕隆汽車), said yesterday that it would work to expand its markets in the Middle East and make inroads into Russia next year.
Luxgen, which was launched in January last year, has recently signed agreements with dealers in Oman, Bahrain, Vietnam, Qatar and the Dominican Republic.
The company entered these markets after participating in car exhibitions that eventually led to partnerships between the company and its dealers in these countries, Luxgen senior vice president Vincent Tsao (曹中庸) told reporters at the Taipei Automobile Show.
PHOTO: CNA
“We plan to expand our market scope in the Middle East to cover Saudi Arabia, Iran and other countries,” he said.
The automaker will take part in an auto exhibition in Dubai next year, he said.
With an eye on entering the Russian market next year, the company is also considering participating in an auto show in Russia in the second half of next year, he added.
On the question of how it plans to market its vehicles to foreign consumers, Tsao said that Luxgen’s advantage is its incorporation of Taiwan’s information and energy technologies into its vehicles’ electronic systems.
He added that Luxgen’s current marketing strategy is focused on branding rather than quantity.
Luxgen made its first overseas shipment on Dec. 20, sending 100 vehicles to the Dominican Republic. The company has forecast that its overseas shipments will exceed 1,000 units next year.
For the Chinese market, a joint venture formed by Yulon and China’s Dongfeng Motor Corp (東風汽車) is planning to ship luxury Luxgen models next year, Tsao said.
TEMPORARY TRUCE: China has made concessions to ease rare earth trade controls, among others, while Washington holds fire on a 100% tariff on all Chinese goods China is effectively suspending implementation of additional export controls on rare earth metals and terminating investigations targeting US companies in the semiconductor supply chain, the White House announced. The White House on Saturday issued a fact sheet outlining some details of the trade pact agreed to earlier in the week by US President Donald Trump and Chinese President Xi Jinping (習近平) that aimed to ease tensions between the world’s two largest economies. Under the deal, China is to issue general licenses valid for exports of rare earths, gallium, germanium, antimony and graphite “for the benefit of US end users and their suppliers
Dutch chipmaker Nexperia BV’s China unit yesterday said that it had established sufficient inventories of finished goods and works-in-progress, and that its supply chain remained secure and stable after its parent halted wafer supplies. The Dutch company suspended supplies of wafers to its Chinese assembly plant a week ago, calling it “a direct consequence of the local management’s recent failure to comply with the agreed contractual payment terms,” Reuters reported on Friday last week. Its China unit called Nexperia’s suspension “unilateral” and “extremely irresponsible,” adding that the Dutch parent’s claim about contractual payment was “misleading and highly deceptive,” according to a statement
The Chinese government has issued guidance requiring new data center projects that have received any state funds to only use domestically made artificial intelligence (AI) chips, two sources familiar with the matter told Reuters. In recent weeks, Chinese regulatory authorities have ordered such data centers that are less than 30 percent complete to remove all installed foreign chips, or cancel plans to purchase them, while projects in a more advanced stage would be decided on a case-by-case basis, the sources said. The move could represent one of China’s most aggressive steps yet to eliminate foreign technology from its critical infrastructure amid a
Nissan Motor Co has agreed to sell its global headquarters in Yokohama for ￥97 billion (US$630 million) to a group sponsored by Taiwanese autoparts maker Minth Group (敏實集團), as the struggling automaker seeks to shore up its financial position. The acquisition is led by a special purchase company managed by KJR Management Ltd, a Japanese real-estate unit of private equity giant KKR & Co, people familiar with the matter said. KJR said it would act as asset manager together with Mizuho Real Estate Management Co. Nissan is undergoing a broad cost-cutting campaign by eliminating jobs and shuttering plants as it grapples
RSS